Australia's Adairs tumbles on downbeat trading update

Adairs

23/06/2025 04:31

** Shares of Adairs ADH.AX fall 20.4% to A$2.055, its lowest since April 10

** Stock eyes weakest trading session since late January 2022, if losses hold

** Home furnishing retailer sees 2H25 group underlying EBIT A$20.5 million-A$24 million ($13.13 million-$15.38 million) vs 1H25 underlying EBIT A$33 million

** Attributes expected lower earnings to elevated promotional activity in second half of FY25 coupled with a weaker effective Australian dollar

** More than 4.1 million shares change hands, 11.3 times the 30-day average in stock's busiest trade since August 28, 2024

** Adairs down 24.1% YTD, including the day's moves

($1 = 1.5608 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))